USA HISTORY

Detailed explanation-1: -What is a Tariff? A tariff refers to the tax imposed by the government on imported goods from other countries. Tariff is imposed majorly to protect the domestic producers, but the government also imposes tariffs to reduce imports from other countries, thereby promoting the use of domestic products. Types of Tariff.

Detailed explanation-2: -A tariff is a tax imposed by a government on goods and services imported from other countries that serves to increase the price and make imports less desirable, or at least less competitive, versus domestic goods and services.

Detailed explanation-3: -Import tariffs are taxes charged by the customs authority on the importation of goods into a country. Usually, the value of the imported goods determines the amount that will be levied on them. In some context, import tariffs also means import duties, customs duties, tariffs or import tax.

Detailed explanation-4: -A tariff is a tax on imported goods. Despite what the President says, it is almost always paid directly by the importer (usually a domestic firm), and never by the exporting country.

Detailed explanation-5: -Tariffs are taxes imposed on the imports by a country for providing protection to its domestic industries.